How Product Management And Innovation Jobs Are Being Revolutionized
Innovate or become obsolete. That is the hard truth that established companies have begun to realize. In order to compete, they must innovate faster than ever before.
From data management to automation, we now have the tools to truly change the workforce at a faster pace unlike any other. And, with this, we will be able to shape more jobs and enhance productivity.
Imagination Has Lead to Innovation
You might be wondering, what has led to this level of innovation that we see today? Yes, advancements in technology have allowed us to create new and improved designs and processes but, it is far more than that. It’s imagination that has started us on these journeys.
People are curious creatures, and it is this curiosity that has sparked a limitless imagination. Human imagination has taken us from discovering fire to creating the telephone to putting us on the moon. Until now, machines were programmed to simply do what we told them, but now with AI (Artificial Intelligence), they are producing ideas for us to consider. Machines are working alongside us, not just for us.
What this all means is that, technology, and, in turn, machines have taken us from fields to factories, from wild ideas to realities. They have moved us to multistory buildings where we work in offices. Now we have the ability to work on our laptops from anywhere in the world as long as we have an internet connection. Our imagination has allowed us to design and build the very tools we need to meet our needs and achieve our dreams.
The Impact of AI on Innovation and Product Development
The impact of AI has now moved one step further, making its mark on product development and innovation as a whole. Gary Binstock, Strategic Innovation & Technology Alliances at Colgate Palmolive stated, “Innovation and product creation used to come from internal research and development teams. We would hire internal teams and spend years creating new products taking them to market on our own timetable. Now, AI takes control of the research element of our processes, thus, leaving us with more time to focus our efforts on development.”
The support that AI gives companies has empowered development teams a rapid speed to market and enables these advanced products to enter the marketplace sooner. A snowball effect of projected growth has been born, providing products to help businesses, individual consumers and the entire global marketplace.
Improvement in the workforce doesn’t stop there, the more professionals can focus on executing tasks from within their core strengths and skillsets, the higher job fulfillment becomes and the more engaged employees feel. When you can rely on AI to handle certain aspects of a job, it becomes not only more efficient, but also more enjoyable. In a world where companies are competing to retain top talent for the long haul, offering an environment of growth and fulfillment like this is key.
Andy Pandharikar CEO of Commerce AI said, “We can now take data points from consumers, both internal customer service data as well as external review data, and with AI, extract consumer insights from it. This intelligence is providing previously unimaginable insights to innovation and product management teams. Product managers are not only able to test their hypothesis but are also presented with previously unknown possibilities”
Learning to work with AI models and tools for data extraction is a skillset that has begun to enhance and change roles in innovation and product management. This niche list of skillsets is an opportunity for professionals to acquire and excel in, setting them apart in the job market. As the need for new skills and jobs arise, those who move quickly and adapt to change will be provided with great opportunities.
The future of the workforce is shifting, and it’s up to companies and professionals to take responsibility for their long term success and gain the skills and tools required to keep up.